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Dynamic quarterly effect of bonus depreciation on ROA volatility.

Dynamic quarterly effect of bonus depreciation on ROA volatility.

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Article
This study examines corporate risk-taking decisions in response to corporate taxable income shifts in the United States. I exploit bonus depreciation, a tax policy implemented in 2001 that induced industry-specific variation in accelerated depreciation schedules, to implement a Difference-in-Differences framework. The findings show that the average...